Dow set to fall 100 points as chip makers drag down tech

U.S. stock index futures indicated a lower open Friday a decline in semiconductor stocks pressured the overall technology sector. ET, Dow Jones Industrial Average futures were down 131 points, indicating a lower open of 112.27 points. Nasdaq 100 and S&P 500 futures also pointed to lower opening trades. The VanEck Vectors Semiconductor ETF (SMH) fell 3.4 percent in the premarket after Nvidia reported weaker-than-expected revenue for its previous quarter. The weakness in chip stocks dragged the te


U.S. stock index futures indicated a lower open Friday a decline in semiconductor stocks pressured the overall technology sector. ET, Dow Jones Industrial Average futures were down 131 points, indicating a lower open of 112.27 points. Nasdaq 100 and S&P 500 futures also pointed to lower opening trades. The VanEck Vectors Semiconductor ETF (SMH) fell 3.4 percent in the premarket after Nvidia reported weaker-than-expected revenue for its previous quarter. The weakness in chip stocks dragged the te
Dow set to fall 100 points as chip makers drag down tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, lower, uk, et, drag, technology, makers, dow, points, futures, semiconductor, fall, previous, stock, tech, chip, set, sector, stocks, 100


Dow set to fall 100 points as chip makers drag down tech

U.S. stock index futures indicated a lower open Friday a decline in semiconductor stocks pressured the overall technology sector.

At around 7:20 a.m. ET, Dow Jones Industrial Average futures were down 131 points, indicating a lower open of 112.27 points. Nasdaq 100 and S&P 500 futures also pointed to lower opening trades.

The VanEck Vectors Semiconductor ETF (SMH) fell 3.4 percent in the premarket after Nvidia reported weaker-than-expected revenue for its previous quarter. The company also posted disappointing guidance, sending the stock down nearly 18 percent before the bell.

The weakness in chip stocks dragged the technology sector, with the Technology Select Sector ETF (XLK) falling 1.1 percent in the premarket.

investors also fretted over political developments overseas amid heightened fears the U.K. could soon crash out of the European Union without a divorce deal. The British pound suffered its biggest one-day loss against the euro since October 2016 on Thursday, as a flurry of resignations rocked the government of U.K. Prime Minister Theresa May.

In the previous session, major stock indexes snapped multi-day losing streaks as J.P. Morgan Chase led banks higher and iPhone maker Apple rebounded after dipping into bear market territory earlier this week.

A number of economic data are expected on Friday. Industrial production numbers are expected to be released at 9:15 a.m. ET, followed by a Quarterly Services Report at 10 a.m. ET, a Kansas City Fed Manufacturing Index at 11 a.m. ET and the Baker-Hughes Rig Count at 1:00 p.m. ET.

At 11:30 a.m. ET, Chicago Federal Reserve Bank President Charles Evans is due to speak about current economic conditions and monetary policy at a roundtable in Chicago.


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, lower, uk, et, drag, technology, makers, dow, points, futures, semiconductor, fall, previous, stock, tech, chip, set, sector, stocks, 100


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Cramer’s Exec Cut: People are at the heart of digitization

Cramer’s Exec Cut: People are at the heart of digitization11 Hours AgoJim Cramer hears from top tech executives on how connected living and the shift to the cloud are transforming customer relationships.


Cramer’s Exec Cut: People are at the heart of digitization11 Hours AgoJim Cramer hears from top tech executives on how connected living and the shift to the cloud are transforming customer relationships.
Cramer’s Exec Cut: People are at the heart of digitization Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16
Keywords: news, cnbc, companies, cramers, relationships, shift, hears, tech, exec, living, executives, digitization, transforming, hours, heart, cut


Cramer’s Exec Cut: People are at the heart of digitization

Cramer’s Exec Cut: People are at the heart of digitization

11 Hours Ago

Jim Cramer hears from top tech executives on how connected living and the shift to the cloud are transforming customer relationships.


Company: cnbc, Activity: cnbc, Date: 2018-11-16
Keywords: news, cnbc, companies, cramers, relationships, shift, hears, tech, exec, living, executives, digitization, transforming, hours, heart, cut


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EU must confront Trump and approve tax on tech giants, Le Maire says

The European Union needs to stand up to President Donald Trump and push through a digital tax on tech companies, France’s finance minister said Thursday. In an on-stage discussion with CNBC’s Karen Tso at the Women’s Forum Global Meeting in Paris, French Finance Minister Bruno Le Maire said EU countries must overcome their differences and agree to raise taxes on tech giants like Google, Facebook, Amazon and Apple. “I hope that we will be able to face Donald Trump and I hope that we will remain s


The European Union needs to stand up to President Donald Trump and push through a digital tax on tech companies, France’s finance minister said Thursday. In an on-stage discussion with CNBC’s Karen Tso at the Women’s Forum Global Meeting in Paris, French Finance Minister Bruno Le Maire said EU countries must overcome their differences and agree to raise taxes on tech giants like Google, Facebook, Amazon and Apple. “I hope that we will be able to face Donald Trump and I hope that we will remain s
EU must confront Trump and approve tax on tech giants, Le Maire says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: elizabeth schulze
Keywords: news, cnbc, companies, approve, confront, tax, companies, giants, trump, google, minister, digital, hope, eu, tech, maire, le


EU must confront Trump and approve tax on tech giants, Le Maire says

The European Union needs to stand up to President Donald Trump and push through a digital tax on tech companies, France’s finance minister said Thursday.

In an on-stage discussion with CNBC’s Karen Tso at the Women’s Forum Global Meeting in Paris, French Finance Minister Bruno Le Maire said EU countries must overcome their differences and agree to raise taxes on tech giants like Google, Facebook, Amazon and Apple.

A recent EU-wide effort to pass a 3 percent tax on the digital revenues of big internet companies failed amid concerns by countries including Ireland and Germany who fear retaliation from the U.S.

President Trump has previously lashed out at the EU for imposing regulations on U.S. companies, like the European Commission’s $5 billion antitrust fine against Google in July.

“I hope that we will be able to face Donald Trump and I hope that we will remain strong and united to face the American administration,” Le Maire said.

The French minister has been an outspoken advocate of the so-called digital tax, calling it unacceptable that tech companies do not pay what he sees as their fair share.

“I will be very simple and very clear,” Le Maire said. “I cannot accept to have Google, Amazon or Facebook paying less taxes…Than my butcher or my bookshop.”


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: elizabeth schulze
Keywords: news, cnbc, companies, approve, confront, tax, companies, giants, trump, google, minister, digital, hope, eu, tech, maire, le


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This group must rebound before Nasdaq can recover, Paul Meeks says

Longtime investor Paul Meeks believes it could take months until the Nasdaq stages a sustainable comeback. According to Meeks, investors will likely have to wait into the new year for more clarity on the chip glut. Until he gets more guidance from semis, Meeks suggests he’ll be staying mostly on the sidelines. His forecast may sound discouraging, but Meeks is confident tech will stage a strong rebound next year. “You could have some semiconductor stocks go up double and triple from where they ar


Longtime investor Paul Meeks believes it could take months until the Nasdaq stages a sustainable comeback. According to Meeks, investors will likely have to wait into the new year for more clarity on the chip glut. Until he gets more guidance from semis, Meeks suggests he’ll be staying mostly on the sidelines. His forecast may sound discouraging, but Meeks is confident tech will stage a strong rebound next year. “You could have some semiconductor stocks go up double and triple from where they ar
This group must rebound before Nasdaq can recover, Paul Meeks says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: stephanie landsman, samxmeg, getty images, chris ratcliffe, bloomberg, hazir reka, dowell, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, right, nasdaq, stocks, trading, paul, semis, recover, think, semiconductor, group, rebound, tech, meeks, biggest


This group must rebound before Nasdaq can recover, Paul Meeks says

Longtime investor Paul Meeks believes it could take months until the Nasdaq stages a sustainable comeback.

Meeks, who ran the world’s biggest tech fund for Merrill Lynch during the dot-com boom and subsequent collapse, predicts the correction gripping the tech-heavy index will only get deeper due a particularly hard-hit group of stocks, which doesn’t include the FANG names.

“Semiconductors, being such an important part of the tech sector, impacts the whole shebang. I actually think it’s the biggest tell,” he said Wednesday on CNBC’s “Trading Nation.” “Right now, we’re in the midst of what we call an inventory correction. That means there are not only too many chips at the vendors themselves, but at their customers.”

The semis began selling off this year before the Nasdaq. The VanEck Vectors Semiconductor ETF is down 11 percent over the past six months.

“I have an extra-large cash position right now,” he said. “I am keeping powder dry. I’m not convinced that we’re near the bottom in these [semi] names.”

According to Meeks, investors will likely have to wait into the new year for more clarity on the chip glut.

“We’ve already been through quarterly results for these companies,” Meeks said. “So, we can’t see the inventory line on these balance sheets for another maybe 90 days.”

Until he gets more guidance from semis, Meeks suggests he’ll be staying mostly on the sidelines. He estimates that the Nasdaq sell-off is in its sixth or seventh inning.

“I don’t think that we’ll see a recovery before the end of 2018,” he said.

His forecast may sound discouraging, but Meeks is confident tech will stage a strong rebound next year.

“You could have some semiconductor stocks go up double and triple from where they are trading now,” Meeks said. “The biggest call in technology will be the semiconductor turn. The people who get that right in 2019 are going to make a load of money.”


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: stephanie landsman, samxmeg, getty images, chris ratcliffe, bloomberg, hazir reka, dowell, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, right, nasdaq, stocks, trading, paul, semis, recover, think, semiconductor, group, rebound, tech, meeks, biggest


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Head for the door if you spot these red flags during a job interview

Ever get an uncomfortable feeling in your stomach during a job interview? A company’s use of old tech can be a pain point once you’re actually working there, Sahni said. Sahni recalls a colleague who turned down a job with a significant salary bump at a major tech firm. “They could so easily have let him stay home to do this, or they could have had him meet people in person,” Sahni said. The point is, they did not use the available tech to its best advantage, which gave the candidate serious res


Ever get an uncomfortable feeling in your stomach during a job interview? A company’s use of old tech can be a pain point once you’re actually working there, Sahni said. Sahni recalls a colleague who turned down a job with a significant salary bump at a major tech firm. “They could so easily have let him stay home to do this, or they could have had him meet people in person,” Sahni said. The point is, they did not use the available tech to its best advantage, which gave the candidate serious res
Head for the door if you spot these red flags during a job interview Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: jill cornfield, urbazon, getty images, -sahil sahni, co-founder of allyo
Keywords: news, cnbc, companies, head, sahni, interview, technology, door, sign, retirement, point, company, person, job, red, youre, tech, flags, spot


Head for the door if you spot these red flags during a job interview

Ever get an uncomfortable feeling in your stomach during a job interview? Ever see two interviewers swivel their heads toward one another, lock eyes and pause before answering your question?

If you’re the kind of person who wants to know the other side of the story, here’s a way to interpret some interview clues that could foretell a dismal future job experience.

For starters, check out the technology the company uses in recruiting.

“If you have to use Internet Explorer to review documents or sign documents and mail them back, that tells you something important about their attitude toward technology,” said Sahil Sahni, co-founder of AllyO, an AI-based recruiting software.

It also reveals how they feel about investing in new technology.

A company’s use of old tech can be a pain point once you’re actually working there, Sahni said.

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You may have to fill out formal requests for information or wait days for an answer to your questions. Whether it’s a payroll question about your remaining days off or your benefits, it’s a sign of a company that is not technologically innovative.

How a company recruits can be a tipoff.

Sahni recalls a colleague who turned down a job with a significant salary bump at a major tech firm.

The reason? He took a day off from work to fly from Texas to California. When he arrived, the HR contact sat him in a room so he could have three video conferences with people in the organization.

“They could so easily have let him stay home to do this, or they could have had him meet people in person,” Sahni said.

The point is, they did not use the available tech to its best advantage, which gave the candidate serious reservations.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: jill cornfield, urbazon, getty images, -sahil sahni, co-founder of allyo
Keywords: news, cnbc, companies, head, sahni, interview, technology, door, sign, retirement, point, company, person, job, red, youre, tech, flags, spot


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Wall Street’s top analysts are sticking by these tech stocks amid the market correction

The Nasdaq Composite Index fell back into correction territory on Monday, pulled down by major tech stocks. But there are still some names top Wall Street analysts are sticking by and telling clients to add. Using TipRanks we dialed down into top analysts’ favorite names from the sector right now. The tool also reveals which stocks have dropped over the last three months- enabling us to pinpoint the best stocks trading at compelling levels. Here are the best-performing analysts’ five favorite te


The Nasdaq Composite Index fell back into correction territory on Monday, pulled down by major tech stocks. But there are still some names top Wall Street analysts are sticking by and telling clients to add. Using TipRanks we dialed down into top analysts’ favorite names from the sector right now. The tool also reveals which stocks have dropped over the last three months- enabling us to pinpoint the best stocks trading at compelling levels. Here are the best-performing analysts’ five favorite te
Wall Street’s top analysts are sticking by these tech stocks amid the market correction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: harriet lefton, chesnot, getty images
Keywords: news, cnbc, companies, sticking, amid, sector, months, streets, correction, tool, market, names, tech, tipranks, wall, street, right, stocks, analysts


Wall Street's top analysts are sticking by these tech stocks amid the market correction

All in all, November isn’t shaping up to be much better than October. The Nasdaq Composite Index fell back into correction territory on Monday, pulled down by major tech stocks.

Concerns about overblown valuations have hurt the sector over the last couple of months, with the pain spread across chip stocks, software stocks as well as the so-called FAANG heavyweights.

But there are still some names top Wall Street analysts are sticking by and telling clients to add.

Using TipRanks we dialed down into top analysts’ favorite names from the sector right now. TipRanks uses a natural language-processing algorithm based on proprietary AI technology to rank analysts on two factors:

Average return of buy-sell recommendations

Success rate of buy-sell recommendations

We used this in conjunction with TipRanks’ Analysts’ Top Stocks tool, to identify the tech stocks which have received the most bullish recent ratings from the Street. The tool also reveals which stocks have dropped over the last three months- enabling us to pinpoint the best stocks trading at compelling levels.

Here are the best-performing analysts’ five favorite tech stocks right now:


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: harriet lefton, chesnot, getty images
Keywords: news, cnbc, companies, sticking, amid, sector, months, streets, correction, tool, market, names, tech, tipranks, wall, street, right, stocks, analysts


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Buffett’s Berkshire reveals stake in Oracle, boosting the shares

Oracle shares jumped 2.6 percent in aftermarket trading. The shares are up 3.3 percent this year as of Wednesday’s closing price. Oracle would be only one of two major tech stakes Berkshire holds. It once held IBM shares but sold out of that stake completely earlier this year. Berkshire’s pivot away from IBM toward companies like Apple and Oracle would seem to be a changing of the guard for tech stocks.


Oracle shares jumped 2.6 percent in aftermarket trading. The shares are up 3.3 percent this year as of Wednesday’s closing price. Oracle would be only one of two major tech stakes Berkshire holds. It once held IBM shares but sold out of that stake completely earlier this year. Berkshire’s pivot away from IBM toward companies like Apple and Oracle would seem to be a changing of the guard for tech stocks.
Buffett’s Berkshire reveals stake in Oracle, boosting the shares Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: liz moyer, david a grogan
Keywords: news, cnbc, companies, shares, stake, buffett, reveals, oracle, closing, tech, boosting, stocksthe, wednesdays, ibm, berkshire, berkshires, trading, buffetts


Buffett's Berkshire reveals stake in Oracle, boosting the shares

Oracle shares jumped 2.6 percent in aftermarket trading. The shares are up 3.3 percent this year as of Wednesday’s closing price. Berkshire’s regulatory filing appeared after the closing bell.

Oracle would be only one of two major tech stakes Berkshire holds. It once held IBM shares but sold out of that stake completely earlier this year. Berkshire’s pivot away from IBM toward companies like Apple and Oracle would seem to be a changing of the guard for tech stocks.

The next generation of cloud computing has been Oracle’s big push under Executive Chairman Larry Ellison, who like Buffett is a billionaire. Buffett is often nicknamed the “Oracle of Omaha,” for his stock-picking abilities.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: liz moyer, david a grogan
Keywords: news, cnbc, companies, shares, stake, buffett, reveals, oracle, closing, tech, boosting, stocksthe, wednesdays, ibm, berkshire, berkshires, trading, buffetts


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Cramer Remix: This tech play can withstand Wall Street’s pushback

Jim Cramer’s job is to keep in touch with what’s hot and what’s not on Wall Street and to help investors make sense of the stock market’s swings. And recently, technology play Twilio has really impressed the CNBC host. “Some companies are so incredibly well-run that they can triumph even when the Wall Street taste-makers are against them,” Cramer said on “Mad Money” after a notable marketwide sell-off. The best part, he added, was that Twilio’s software-as-a-service story is “still in its very e


Jim Cramer’s job is to keep in touch with what’s hot and what’s not on Wall Street and to help investors make sense of the stock market’s swings. And recently, technology play Twilio has really impressed the CNBC host. “Some companies are so incredibly well-run that they can triumph even when the Wall Street taste-makers are against them,” Cramer said on “Mad Money” after a notable marketwide sell-off. The best part, he added, was that Twilio’s software-as-a-service story is “still in its very e
Cramer Remix: This tech play can withstand Wall Street’s pushback Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: elizabeth gurdus, jim urquhart, scott mlyn, pradeep gaur, mint, getty images
Keywords: news, cnbc, companies, cramer, wall, withstand, tech, remix, stock, marketwide, street, streets, twilios, pushback, companies, twilio, play, technology, whats


Cramer Remix: This tech play can withstand Wall Street's pushback

Jim Cramer’s job is to keep in touch with what’s hot and what’s not on Wall Street and to help investors make sense of the stock market’s swings. And recently, technology play Twilio has really impressed the CNBC host.

“Some companies are so incredibly well-run that they can triumph even when the Wall Street taste-makers are against them,” Cramer said on “Mad Money” after a notable marketwide sell-off.

Last week, the stock of Twilio — which helps companies like Uber and Airbnb develop and deliver push technology through their apps and connect with customers — surged 35 percent in a single day after the company reported a blowout earnings report.

Even Cramer didn’t expect results that strong. The best part, he added, was that Twilio’s software-as-a-service story is “still in its very early innings.”

“But thanks to the latest marketwide turmoil, … Twilio’s shares have pulled back dramatically from their highs, falling from $98 and change … to $84 as of today,” Cramer said. “To me, it feels like a real bargain at these levels, although, of course, I’d like it lower, particularly if people keep talking about the bear market.”


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: elizabeth gurdus, jim urquhart, scott mlyn, pradeep gaur, mint, getty images
Keywords: news, cnbc, companies, cramer, wall, withstand, tech, remix, stock, marketwide, street, streets, twilios, pushback, companies, twilio, play, technology, whats


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Chinese tech giant Huawei plans to introduce ‘augmented reality’ glasses in next one or two years

Huawei is working on augmented reality (AR) smart glasses which could debut in the next one or two years, potentially pitting it in a race against Apple, which is reportedly working on a similar product of its own. The Chinese technology giant already has augmented reality apps on its latest Mate 20 Pro smartphone. These would be wearable spectacles that allow people to experience AR. “With this AR, you can have AR glasses working with phone, maybe you can watch more of a large area,” Yu said. Y


Huawei is working on augmented reality (AR) smart glasses which could debut in the next one or two years, potentially pitting it in a race against Apple, which is reportedly working on a similar product of its own. The Chinese technology giant already has augmented reality apps on its latest Mate 20 Pro smartphone. These would be wearable spectacles that allow people to experience AR. “With this AR, you can have AR glasses working with phone, maybe you can watch more of a large area,” Yu said. Y
Chinese tech giant Huawei plans to introduce ‘augmented reality’ glasses in next one or two years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: arjun kharpal, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, ar, users, introduce, technology, smartphone, working, glasses, experience, tech, plans, chinese, huawei, yu, giant, augmented, reality


Chinese tech giant Huawei plans to introduce 'augmented reality' glasses in next one or two years

Huawei is working on augmented reality (AR) smart glasses which could debut in the next one or two years, potentially pitting it in a race against Apple, which is reportedly working on a similar product of its own.

AR is a technology that sees virtual three-dimensional images overlaid onto the real world. It’s a similar principle as smartphone game apps that let users see digital objects through the screens on their phones that appear to be within the scene captured on their screen.

The Chinese technology giant already has augmented reality apps on its latest Mate 20 Pro smartphone.

But Richard Yu, CEO of Huawei’s consumer business, told CNBC in an exclusive interview that AR glasses are in the works which could take the experience to the next level. These would be wearable spectacles that allow people to experience AR.

“With this AR, you can have AR glasses working with phone, maybe you can watch more of a large area,” Yu said.

“In the beginning you may feel AR … is nothing. But in the future you will see more and more the value of that,” he added.

Yu said the company will bring more augmented reality experiences to the smartphone first, so users become accustomed to it before the company releases the glasses.

“The next one to two years I think the industry will commercialize, even for Huawei. We will bring a better user experience product,” Yu said.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: arjun kharpal, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, ar, users, introduce, technology, smartphone, working, glasses, experience, tech, plans, chinese, huawei, yu, giant, augmented, reality


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India prime minister says financial tech needs to be a ‘movement’ — not a ‘mechanism’

Indian Prime Minister Narendra Modi said on Wednesday that the development of financial technology, or fintech, should be a movement that can improve the lives of the world’s most marginalized people. The Indian prime minister, along with Singapore Deputy Prime Minister Tharman Shanmugaratnam, formally launched on online marketplace that will connect technology start-ups and financial institutions in Asia and beyond. The platform — known as APIX, or API Exchange — was first announced in Septembe


Indian Prime Minister Narendra Modi said on Wednesday that the development of financial technology, or fintech, should be a movement that can improve the lives of the world’s most marginalized people. The Indian prime minister, along with Singapore Deputy Prime Minister Tharman Shanmugaratnam, formally launched on online marketplace that will connect technology start-ups and financial institutions in Asia and beyond. The platform — known as APIX, or API Exchange — was first announced in Septembe
India prime minister says financial tech needs to be a ‘movement’ — not a ‘mechanism’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: saheli roy choudhury, suhaimi abdullah, getty images
Keywords: news, cnbc, companies, mechanism, prime, lives, needs, financial, fintech, technologies, singapore, modi, minister, india, internet, technology, movement, tech


India prime minister says financial tech needs to be a 'movement' — not a 'mechanism'

Indian Prime Minister Narendra Modi said on Wednesday that the development of financial technology, or fintech, should be a movement that can improve the lives of the world’s most marginalized people.

“We are in an age of a historic transition brought about by technology: From desktop to cloud, from internet to social media, from IT services to internet of things, we have come a long way in a short time,” Modi said at the Singapore FinTech Festival on Wednesday morning.

Modi, who is in Singapore for the East Asian Summit and to meet leaders of the Association of Southeast Asian Nations, said history has shown that the financial industry is often the first to embrace new technologies and connectivity.

“There is daily disruption in businesses, the character of the global economy is changing — Technology is defining competitiveness and power in the world and it is creating boundless opportunities to transform lives,” he said.

The Indian prime minister, along with Singapore Deputy Prime Minister Tharman Shanmugaratnam, formally launched on online marketplace that will connect technology start-ups and financial institutions in Asia and beyond. The platform — known as APIX, or API Exchange — was first announced in September.

One of its aims will be to drive financial inclusion across Asia Pacific, and to create a regulated space for financial institutions and fintech firms to collaborate and experiment on new technologies. It will be developed and operated by a global consortium led by technology company Virtusa.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: saheli roy choudhury, suhaimi abdullah, getty images
Keywords: news, cnbc, companies, mechanism, prime, lives, needs, financial, fintech, technologies, singapore, modi, minister, india, internet, technology, movement, tech


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